Mongolia Builds a New Identity: "When outsiders think of Mongolia, and they don't very often, the image is usually picturesque images of fast horses, endless grasslands and nomadic people living in gers or yurts. The last time Mongolia mattered much to the world was during the time of the Khans – Genghis and Kublai— and their sprawling, short-lived empire. Mongolia was a hermit kingdom that ranked up with Albania and North Korea until its democratic revolution 23 years ago.
That picture is rapidly outdated. In an age of hunger for natural resources, Mongolia now matters. It has the largest coal reserves in the world, and some of the largest reserves of copper and many other resources, from gold to a variety of rare earths.
Mongolia's population of 2.7 million people would fit into Shenzhen several times over. Yet Mongolians inhabit a country with a land size that 60 percent larger than Germany and France combined.
Mongolia last year posted 17 percent GDP growth, its third straight year of double-digit economic growth. Exports have nearly doubled in the past two years. Per capita GDP is expected to roughly triple in the next four years, from around US$ 2,500 now to US$ 7,500 as new coal mines open."
'via Blog this'
